World Series of Poker (Cont.)

World Series of poker actually consists of a number of poker tournaments of various poker games including Texas Holdem, Omaha, Razz, Stud Poker, and HORSE (a rotation of Texas Hold'em, Omaha, Razz, Seven Card Stud, and Stud Eight or Better). There are also Lowball and Hi-Low split poker games.

The winner of each World Series of Poker tournament event is awarded a gold bracelet (which many players value more than the cash prize). The cash prizes are substantial typically ranging in the low to mid six figures with the first place prize for last year's Championship event setting a new record at $5 million.

Poker tournament buy-ins generally range from $1,000 to $5,000 with the Championship tournament having a buy-in of $10,000. Players can also get into the Championship tournament by winning World Series of Poker satellite tournaments.

Of course, when most people think of the World Series Of Poker they think of the most publicized game, the grade finale of the entire event. This is the championship that everyone wants to win because it is by far the biggest event and is certainly the most prestigious.

The event in question is the No Limit Texas Holdem event. The winner is crowned the World Champion and gets his picture installed in the Gallery of Champions. The World Series Of Poker winner also gets the bracelet and of course the massive prize money.